between 15-20% and annual leveraged returns of 25-30%
American Stock Transfer and Trust Company
Stock transfer agent and related serviceswww.amstock.com
Type of transaction: Private Vendor
Date of acquisition: May 2008
American Stock Transfer and Trust Company (AST) is a US stock transfer agent. Founded in 1971, AST has grown to be the largest stock transfer agent in the United States by number of corporate issuers.
AST's unique, customer-driven approach to the provision of comprehensive transfer agency services has seen it consistently achieve the highest customer satisfaction rating in the industry. Its operations, located predominantly in Brooklyn, are world-class in terms of flexibility and efficiency.
AST's corporate services include:
- Stock transfer agency services;
- Trustee services for debentures, tender agent, exchange agent and escheatment;
- Equity compensation plan administration;
- Dividend reinvestment plan administration; and
- Proxy services.
Pinnacle Bakery & Integrated Ingredients
Baked Goods Manufacturerwww.pinnaclebii.com
Type of transaction: Corporate
Acquisition date: May 2015
Pinnacle manufactures and distributes:
- Finished baked goods such as muffins, cakes, donuts, slices and profiteroles;
- Frozen and unbaked specialty products including pastries, cookies, scones, sausage rolls, bagels and pastry shells; and
- Fillings and ingredients such as bakery mixes, jams and fondants
Pinnacle has a leading position in the local baked products and bakery ingredients market, with 3,500 customers throughout Australasia, and is a major supplier to supermarkets, food service and bakery retailers.
Pinnacle is the only manufacturer with full product and channel capability on a national basis, providing a strong competitive advantage and an excellent platform for growth. The business is currently investing in upgrading its manufacturing facilities and capabilities, resulting in the most modern and flexible plant in Australia.
Type of transaction: Private vendor
Acquisition date: December 2015
Manuka Health manufactures and distributes:
- Manuka honey at various grades which has strong anti-bacterial properties
- Supplements such as manuka honey-based syrup and lozenges, propolis, royal jelly and other bee products
- Personal care products including wound care, skin care and oral care products
- Gourmet foods including a variety of non-manuka floral honey blends and baked goods
Manuka Health is one of two corporate players of scale in a fragmented but consolidating industry. The strength of the Manuka Health brand along with a new state-of-the-art production facility provides a strong competitive advantage and an excellent platform for growth.
Type of transaction: Leveraged
Acquisition date: September 2015
ACG is New Zealand's largest private education provider. Since the establishment of its first school 20 years ago, ACG has grown organically and by acquisition to provide a diversified education offering by age, level of education and geography. ACG educates ~9,000 students each year, and employs ~1,200 staff across 35 campuses in 10 cities.
ACG operates four key divisions:
- Domestic Private Schools: Five private schools and several early childhood facilities
- Offshore Private Schools: International schools in Vietnam and Indonesia catering to expatriate students as well as a growing demand from select local students
- Tertiary/Private Training Establishment: Under four key brands, ACG is the largest vocational training provider in New Zealand, educating a mix of local and foreign students coming to New Zealand to attain a globally recognised qualification
- NZ International: University foundation programmes for international students, supported by exclusive partnership agreements with two of Auckland's top universities